In Vivo Imaging Market Analysis

Global In-vivo Imaging Market Overview

In-vivo Imaging Market Size was valued at USD 2.8 Billion in 2023. The In-vivo Imaging market Application is projected to grow from USD 2.94 Billion in 2024 to USD 4.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.84% during the forecast period (2024 - 2032).Hybrid imaging systems are being created as a result of an increase in research and development investments and funds as well as the rapid speed of technical improvements, are the key market drivers enhancing the market growth. 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

On the 05th of September 2023, Revvity Inc., a company dealing in biotechnology, launched three systems to expand its enhanced imaging portfolio that would drive creativity across various applications in preclinical research. The new products include next-generation IVIS Spectrum 2 and IVIS SpectrumCT 2 imaging systems, QuantumTM GX3 micro CT structural imaging solution, and Vega ultrasound system.

Motilent Limited is a technology start-up that partnered with Minerva Imaging on June 20, 2023, to re-imagine translational research in digestive disease research. Minerva Imaging is one of the leading firms globally specializing in advanced techniques such as MRI, PET & nuclear medicine for in-vivo preclinical models.

For example, Philips N.V. introduced an innovative high-throughput CT system called Philips CT 3500 aimed at meeting the requirements for large amounts of screening initiatives and routine radiology procedures in May 2023. Because it’s AI-operated, Philips CT 3500 has multiple functions responsible for the image-reconstruction process as well as improving the workflow, which together deliver dependable images’ speediness and excellence required by clinicians to confidently diagnose patients and enhance return earnings even at the most stringent demanding medical facilities.

In May 2022, FUJIFILM VisualSonics Inc., the world leader in ultra-high frequency photoacoustic and ultrasound imaging systems, released Vevo F2 multi-modal – a revolutionary photoacoustic and ultrasound imaging system targeting preclinical use. With an ultra-high to low-frequency range capability, this Vevo F2 is the first ever offered by a company, giving researchers unrivaled imagistic adaptability.

Sciatica announced a new collaboration with Bioemtech-a manufacturer dedicated to desktop SPECT, PET and optical scanners for use in preclinical research- on April sixteen [sic] this year [sic]. This partnership will allow more researchers around the world to access Bioemtech’s preclinical instruments.

For example, in March 2023, Eli Lilly and Company reported that solanezumab did not reduce cognitive decline resulting from Alzheimer’s disease (AD) pathology in people who had amyloid plaques without evidence of dementia, often referred to as preclinical AD1 using PET-imaging.

In-vivo Imaging Market Trends

• The growing number of investments and funding in research and development is driving the market growth

The market is growing largely because to a rise in R&D investments and funding as well as the quickening pace of technical advancements that have resulted in the development of hybrid imaging systems. Preclinical research is altering how health problems are handled and how contemporary medicine is conducted. Preclinical imaging techniques completely follow the 3R (Replacement, Reduction, and Refinement) tenets by lowering biological variability, gathering a tremendous quantity of unique data in multiple formats, and dramatically lowering the number of animals required for a specific research.

Additionally, in-vivo imaging systems are being utilised more often in preclinical research as there are more clinical research organisations (CROs) and pharmaceutical companies; this is expected to further fuel the market's expansion for preclinical imaging. An example is the installation of new 7T-3T MR/PET and PET-CT systems by MR solutions at the USF Health Morsani College of Medicine in July 2020, which will result in the establishment of the institution's first comprehensive preclinical imaging suite. The biggest impediments to the market's growth, on the other hand, are the restrictions on animal testing imposed by legislation that are upheld by organisations that protect animal rights.

As a result, alternative approaches including in-vitro testing, micro-dosing, computer-based models, virtual drug testing, and the creation of computerised databases for testing are being used by more and more people. However, non-invasive imaging technologies like MRI and CT scans are starting to gain popularity. The COVID 19 outbreak in 2020 had a substantial effect on the sector, leading to a fall in preclinical imaging equipment output as well as delays in the import and export of devices, significantly impairing business operations. However, as countrywide lockdowns and sales bans have been lifted, the market is gradually getting back to normal. For example, Bruker's revenues decreased by 4.1 percent in 2020, but consecutive increases in orders and revenues occurred in the second half of the year as business conditions improved.

Technology developments in molecular imaging are mostly to blame for the rise in the use of optical preclinical imaging. The impact of nuclear medicine and molecular imaging on diagnosis and treatment has significantly improved and is still growing. One of the main factors influencing the evolution of the nuclear medicine and molecular imaging industry is the rise in the prevalence of chronic diseases, a significant increase in the ageing population, and more constrained resources.Thus, driving the In-vivo Imaging market revenue.

In-vivo Imaging Market Segment Insights

In-vivo Imaging Application Insights

The In-vivo Imaging market segmentation, based on application, includes nuclear imaging and optical imaging. Optical imaging segment dominated the market in 2022. This is because they are frequently used in research to find new medications and to photograph small creatures. The in-vivo imaging market is expected to grow significantly over the course of the projected period. In preclinical research, next generation devices with integrated imaging technologies are anticipated to hasten the evolution of the multi-modal imaging devices. Technology developments have resulted in the creation of integrated systems that permit multiple screening in a single unit and include molecular and anatomical digital imaging systems.

The nuclear imaging sector made for a large portion of the imaging market in 2022 due to the extensive use of these goods in all imaging procedures. As a result, these products are bought more frequently than imaging instruments. The variety of applications for these devices is growing as a result of the constant pace of technological advancement. Oncology research is a crucial area for preclinical imaging technology. The latest multi-modal gadgets with increased sensitivity that are enhanced by digitalization and a user-friendly interface are widely used, according to oncology study. These tools are also used in cardiology, obstetrics, and gynaecology research.

In-vivo Imaging Technique Insights

The In-vivo Imaging market segmentation, based on technique, includes radioisotopes, biomarkers, luminescent proteins based, and others. Radioisotopes segment dominated the market in 2022.This is because radioisotopes-based imaging systems are widely used in preclinical research studies all over the world, they are expensive, and new, technologically advanced preclinical imaging technologies are being developed and commercialised.

In-vivo Imaging End Use Insights

The In-vivo Imaging market segmentation, based on End Use, includes hospitals & clinics, imaging center, research organization. Hospitals & clinics segment dominated the In-vivo Imaging market in 2022.This is due to an increase in drug discovery, the presence of important actors, and an increase in healthcare spending. Additional factors that are anticipated to drive the overall in-vivo imaging market include a growth in research and development activities, an increase in hospital facilities that provide optical preclinical imaging services, and increasing investments in the healthcare industry.

Figure 1: In-vivo Imaging Market, by End Use, 2023 & 2032 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

In-vivo Imaging Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific In-vivo Imaging market dominated this market in 2022 (45.80%). Due to reasons including low research costs, lax regulatory standards, and increased government funding for the expansion of the research and development sector in the various countries, preclinical research studies are drawn to the region. As a result, the Clinical Research Outsourcing (CRO) market is expanding quickly in developing countries like China and India. Moreover, China’s In-vivo Imaging market held the largest market share, and the Indian In-vivo Imaging market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: IN-VIVO IMAGING MARKET SHARE BY REGION 2023 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The North America In-vivo Imaging Market is expected to register significant growth from 2023 to 2032. The presence of qualified specialists, a sizable number of preclinical projects, and greater acceptance rates of technologically advanced equipment in the region are some of the key market factors in North America. Additionally, regional clinical research and development programmes are being encouraged by government initiatives. One such government programme promoting the R&D efforts in the nation is the Canadian R&D tax credit programme. The market is benefiting from government support in the form of money and tax breaks. The aforementioned variables suggest that North America will continue to dominate during the projection period. Further, the U.S. In-vivo Imaging market held the largest market share, and the Canada In-vivo Imaging market was the fastest growing market in the North America region.

Europe In-vivo Imaging market accounted for the healthy market share in 2022. The industry will be helped by factors including rising healthcare costs, quick technological improvements, and healthcare services.Further, the German In-vivo Imaging market held the largest market share, and the U.K In-vivo Imaging market was the fastest growing market in the European region.

In-vivo Imaging Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the In-vivo Imaging market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, In-vivo Imaging Industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the In-vivo Imaging Industry to benefit clients and increase the market sector. In recent years, the In-vivo Imaging Industry has offered some of the most significant advantages to medicine. Major players in the In-vivo Imaging market, including Bruker, MILabs B.V., FUJIFILM VisualSonics Inc., Mediso Ltd., LI-COR, Inc., Aspect Imaging., TRIFOIL IMAGING, MR Solutions, Biospace Lab S.A., and New England Biolabs, are attempting to increase market demand by investing in research and development operations.

The pre-clinical and medical markets are served by Aspect Imaging, a company that creates medical imaging equipment. With the help of the company's systems, which offer a self-shielded permanent magnet MRI technology platform that enables MRI systems to be installed at the Point-of-Care and helps in scanning newborns without requiring them to leave the NICU, medical professionals can solve complex biological problems and boost the profitability of process systems. Aspect Imaging announced in September 2017 that Quantum Analytics would serve as its only U.S. reseller for its industrial product line.

A private institution named Kawasaki Medical School was founded in April 1970 and is located in Kurashiki, Japan. A medical education museum known as the Medical Museum of Kawasaki Medical School was constructed in 1981 to mark the school's 10th anniversary of its founding and to support the independent learning of medical and postgraduate students. Instead of historical artefacts, the collected items in this museum emphasise the presentation of contemporary medicine. By looking at the displayed specimens, students can educate themselves and solidify their knowledge. Kawasaki Medical University, a research hub for cutting-edge medical services and science in Yokohama, installed the first MILabs E-Class U-SPECT6/CT system in Japan in June 2019 and purchased an ultra-high-resolution E-Class U-SPECT6/CT system for preclinical imaging.

Key Companies in the In-vivo Imaging market include

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  Bruker

  
  


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  MILabs B.V.

  
  


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  FUJIFILM VisualSonics Inc.

  
  


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  Mediso Ltd.

  
  


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  LI-COR, Inc.

  
  


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  Aspect Imaging.

  
  


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  TRIFOIL IMAGING

  
  


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  MR Solutions

  
  


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  Biospace Lab S.A.

  
  


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  New England Biolabs

  
  

In-vivo Imaging Industry Developments

May 2022:Innovative 7 Tesla and 9.4 Tesla conduction-cooled Maxwell magnets were introduced by Bruker for its portfolio of market-leading preclinical magnetic resonance imaging (MRI) equipment.

April 2022:With the introduction of the Vega imaging system, a first-of-its-kind ultrasound platform that combines hands-free, automated technology with the high-throughput capability to accelerate non-invasive research and drug development studies of cancer, liver and kidney disease, cardiology, and more, PerkinElmer announced the expansion of its in vivo imaging portfolio.

In-vivo Imaging Market Segmentation

In-vivo Imaging Application Outlook

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  Nuclear Imaging

  
  


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  Optical Imaging

  
  

In-vivo Imaging Technique Outlook

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  Radioisotopes

  
  


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  Biomarkers

  
  


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  Luminescent Proteins Based

  
  


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  Others

  
  

In-vivo Imaging End Use Outlook

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  Hospitals & Clinics

  
  


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  Imaging Center

  
  


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  Research Organization

  
  

 In-vivo Imaging Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America